Hospital Lights Market Research Report and Outlook by 2028

The Hospital Lights sector is projected to expand from US$ 5,432.01 million in 2021 to US$ 9,765.09 million by 2028, reflecting a compound annual growth rate (CAGR) of 8.7% during this period.

Hospitals are essential for providing healthcare services, and the establishment of new medical facilities offers significant growth prospects for stakeholders in the hospital lighting industry. In 2021, Europe initiated several investment strategies aimed at enhancing hospital infrastructure, including the redevelopment of the Hospitacite Hospital Complex and the development of the L?rrach Central Hospital campus, which aim to improve healthcare access in both developed and developing areas. Furthermore, the market's expansion will be fueled by advancements in product development and the presence of leading manufacturers supplying LED lighting solutions for surgical environments, such as Integra LifeSciences' Codman specialty surgical device. LED surgical lighting is favored by outpatient surgery centers due to its energy efficiency, reduced power consumption, and longer lifespan compared to traditional halogen lighting. Additionally, government incentives and subsidies for replacing outdated lighting with LED troffer products are promoting the global adoption of LED technology, thereby increasing the demand for troffer lights.

Moreover, a consistent increase in investments from local and federal entities aimed at expanding the number of hospitals and upgrading existing facilities is positively influencing the hospital lighting market. The United States has made substantial investments in hospital construction and expansion over the past decade. According to the US Department of Health & Human Services, notable hospital infrastructure projects in the US as of October 2021 include:

• The Boston Planning and Development Agency sanctioned a 1 million-square-foot expansion for Massachusetts General Hospital in October 2021, with a budget of US$ 2 billion.
• In September 2021, Tampa General Hospital announced the first phase of its expansion plan, estimated at US$ 550 million.
• Kaiser Permanente and Providence Southern California revealed plans to jointly build a hospital in Victorville, California, with a projected investment of US$ 1 billion, expected to commence operations by 2028.

Such initiatives by local and federal governments to enhance healthcare infrastructure are driving the demand for effective lighting solutions.

The electronics and semiconductor sectors experienced significant disruptions due to the COVID-19 pandemic in 2020 and 2021, with lockdown measures affecting hospital construction activities and causing supply chain interruptions. These challenges led to a temporary slowdown in the growth of the hospital lights market. However, the ongoing development of regional hospitals is stimulating demand within the hospital lighting sector. For instance, in 2020, Abu Dhabi Health Services Company established new hospitals in Abu Dhabi and the Emirates Humanitarian City, while efforts to develop and renovate hospitals have accelerated in the post-COVID-19 landscape. The European government has allocated approximately USD 4.1 billion for the construction of 40 hospitals by 2030, and temporary hospitals were built in England in 2021. Additionally, the redevelopment of the Hospitacite Hospital Complex and the establishment of various other hospitals will further enhance the demand for hospital lighting and contribute to the overall market growth. For example, in 2022, the Chinese government announced plans to construct two to three temporary hospitals in Beijing for COVID-19 patients, while the Pune Municipal Corporation in India allocated INR 2 crore for infrastructure improvements at a newly constructed municipal hospital in Hadapsar for COVID treatment. The revival of previous projects and the initiation of new hospital developments will continue to propel the growth of the hospital lights market.

The hospital lights market is categorized by product type, technology, and application. In terms of product type, the market is divided into troffer lights, surface-mounted lights, surgical lamps, and others. By technology, the market is segmented into fluorescent technology, LED technology, and others. In 2021, the LED technology segment dominated the market, holding the largest share. Regarding application, the hospital lights market is classified into patient wards and ICUs, surgical suites, examination rooms, and others, with the patient wards and ICUs segment leading the market in 2021. Geographically, the hospital lights market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM), with North America accounting for a significant market share in 2021.

The market analysis of the global hospital lights sector includes an examination of various key players in the industry, such as Signify Holding (Philips), ACUITY BRANDS, INC., Cree Lighting, Dragerwerk AG & Co. KGaA, KLS Martin Group, Stryker Corporation, GE Current, Hubbell Incorporated, Trilux GMBH & Co. KG, Zumtobel Lighting GMBH, Effe, Tulip, Planet Lighting, and Eagle Lighting Australia Private Ltd.

The size of the hospital lights market has been determined through a combination of primary and secondary research methodologies. The initial phase involved extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the hospital lights market. This process aimed to provide a comprehensive forecast and understanding of the market's segments. Additionally, numerous primary interviews were conducted with industry experts and stakeholders to validate the accuracy of the collected data and to gain further analytical insights. Participants included VPs, business development managers, market intelligence managers, national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders with specialized knowledge in the hospital lights market.